RULE 25
RECEIVERS

Analysis

              RULE 25
RECEIVERS

 
25.01   Application for receiver and injunction

 
25.02   Giving of security by receiver

 
25.03   Remuneration of receiver

 
25.04   Receiver's accounts

 
25.05   Default by receiver

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Application for receiver and injunction

25.01. (1) The Court may appoint a receiver in any proceeding in which it appears to be just or convenient, and the appointment may be made either unconditionally or upon such terms and conditions as the Court thinks just.

             (2)  When appointing a receiver, the Court may grant an injunction restraining the party beneficially entitled to any interest in the property of which a receiver is sought, from assigning, charging or otherwise dealing with that property until after the hearing of the application for the appointment of the receiver.

             (3)  Where an applicant wishes to apply for the immediate grant of an injunction, the applicant may do so ex parte.

             (4)  Where on a hearing of an application for the appointment of a receiver, it appears that the matter in dispute should be dealt with by an early trial, the Court may order accordingly and fix the place and mode of trial, and make such other order as is just.

1986 c42 Sch D rule 25.01

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Giving of security by receiver

25.02. (1) Unless the Court otherwise orders or a statute otherwise provides a receiver shall give security approved by the Court to account for any property received by the receiver, as receiver, and the receiver shall deal with the property as the Court directs.

             (2)  The security shall be filed with the Court. 

1986 c42 Sch D rule 25.02; 36/14 s29

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Remuneration of receiver

25.03. A receiver shall be allowed such proper remuneration, if any, as may be fixed by the Court.

1986 c42 Sch D rule 25.03

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Receiver's accounts

25.04. A receiver shall submit the accounts, verified by affidavit, to the Court, annually or at such intervals as the Court may order, for approval and when approved the accounts shall be filed and any balance disbursed in accordance with the order.

1986 c42 Sch D rule 25.04

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Default by receiver

25.05. Where a receiver fails to attend on the passing of any account, submit an account, make an affidavit, or do any other thing that the receiver is required to do, the receiver and any party or person may be required to attend in chambers to show cause for the failure, and the Court may make such order as is just, including ordering the discharge of the receiver and the appointment of another, the disallowance of any remuneration claimed by the receiver or any part thereof, and the payment of such interest and costs by the receiver or any party or person as is just.

1986 c42 Sch D rule 25.05